An investor, who purchased NASDAQ:UPI shares, filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Uroplasty, Inc. in connection with certain allegedly false and misleading statements that were made b between July 26, 2012 and June 13, 2013
If you purchased shares of Uroplasty, Inc. (NASDAQ:UPI) between July 26, 2012 and June 13, 2013 and /or if you purchased NASDAQP:UPI shares prior to July 2012 and currently hold any of those shares, you have certain options andfor certain investors are strict and short deadlines running. Deadline: August 30, 2013. NASDAQ:UPI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Uroplasty, Inc. (NASDAQ:UPI) between July 26, 2012 and June 13, 2013, that Uroplasty, Inc. and certain of its officers and directors violated federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff alleges that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Uroplasty, Inc improperly recognized revenues, that Uroplasty, Inc made improper sales commission payments, that Uroplasty, Inc lacked adequate internal and financial controls, and that as a result of the foregoing Uroplasty’s statements were materially false and misleading at all relevant times.
On June 14, 2013, Uroplasty, Inc. announced that it will delay the filing of its Annual Report on Form 10-K for the year ended March 31, 2013, until the completion of a review of its internal control over financial reporting.
On July 1, 2013, NASDAQ:UPI shares closed at $2.02 per share.
Those who purchased shares of Uroplasty, Inc. (NASDAQ:UPI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.